Industrial strategy announced

The government has published its industrial strategy green paper outlining plans to improve the country’s productivity and infrastructure.

Ensuring that businesses have access to the right skills and resources available is also high on the agenda.

The consultation proposes 10 areas of focus, including:

research and innovation

developing skills

upgrading infrastructure

supporting business growth.

Reaction

The announcement has prompted reaction from several industry and business groups.

Commenting on the strategy, Dr Adam Marshall, director general of British Chambers of Commerce, said:

"Given the significant skills gaps that so many firms continue to face, the industrial strategy's strong emphasis on boosting technical and further education will be cheered by companies and business communities alike, whatever their location or sector.”

Mike Cherry, national chairman at the Federation of Small Businesses, said:

“We are concerned that policymakers remain focused on start-ups and scale-ups, and will be joining the consultation to back moderate-growth firms. We want the UK to be the best place in the world to start-up, run and grow a business and we will press the government to strengthen its resolve on this.”

James Sproule, director of policy at the Institute of Directors, said:

“The new strategy is a chance to provide a positive environment for existing companies, but also encourage the upstarts which will develop the products and services of the future.

“It is painful to watch established businesses fail, but the government should be very sceptical of its power to keep struggling companies going through cash payments.”